India’s shrimp is dominating the global market as imports to the US has increased to over 40%. India’s shrimp industry is poised for a strong comeback in 2025 with the bonus of recovering global demand and reduced competition from Ecuador as recently reported by InCred Equities.

The country whose overproduction led to industry consolidation has now slowed down according to the report. At present this growth is also expected to be supported by favourable market conditions such as reduction in the input costs of soymeal and fishmeal as well as depletion of shrimp inventories by the US and China. These indicate a decent opportunity for India to gain share in the global shrimp market. India’s shrimp imports to the US have accelerated to over 40% in September and October in 2024 asserting its growing dominance in the global market.

The US Department of Commerce had unexpectedly announced an antidumping duty on frozen warm water shrimp imports from Ecuador, India, Vietnam, and Indonesia earlier in 2024. While Ecuador seems the hardest hit from the duty from the preliminary determination of countervailing duty, Indian shrimp
exporters will likely need to book additional costs due to it, especially for sales completed towards the fag end of 2024. The impact will potentially appear in the December quarter financial results, according to a report by Incred equities in the month of Nov 2024.

The market positioning and profitability for Indian exporters may take a beating as Ecuador holds a competitive advantage over Indian companies regarding countervailing duties and Indian Shrimp is still not completely out of rough waters. The prediction for 2025 however is that of a strong comeback.